NASDAQ$VLY
Valley National Bancorp · Q1 2020 earnings
Q1 2020 earnings · · Investor relations
Briefing
Reported a net income with strong loan growth and net interest margin.
Valley National Bancorp reported a net income of $87.3 million, or $0.21 per diluted common share, for the first quarter of 2020. The results reflect strong loan growth and an increase in the net interest margin. The bank dedicated resources to support customers through the CARES Act and Paycheck Protection Program, facilitating $1.6 billion in assistance.
- Loans increased by $728.9 million, or 9.8% annualized, driven by commercial real estate, commercial and industrial, and residential loan growth.
- Net interest income on a tax equivalent basis increased to $266.4 million, up $26.8 million from the previous quarter, due to lower funding costs and the Oritani Financial Corp. acquisition.
- Net interest margin on a tax equivalent basis rose to 3.07%, an 11 basis point increase from the fourth quarter of 2019.
- The provision for credit losses for loans was $33.9 million, influenced by adverse economic conditions and loan growth.
Headline financials
Revenue & EPS history
Valley National · Revenue · Quarterly
$307M
Revenue by segment
Valley National · $45.2B total across 4 segments · Q3 2022
- Total commercial real estate$28.1B—62.1%
- Commercial and industrial loans$8.7B+2709.1%19.3%
- Residential mortgage$5.18B—11.5%
- Total consumer loans$3.24B—7.2%
Forward guidance
The document does not contain explicit forward guidance. It expresses management's expectations about programs, products, acquisitions, relationships, opportunities, taxation, technology, market conditions, and economic expectations, including the potential effects of the COVID-19 pandemic.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2020
-0.2%
Avg return
Earnings day
+0.2%
Avg return
5 days after
+1.6%
Avg return
30 days after
50%
34 / 68 earnings
Positive
+9.3%
Q1 2023
Best reaction
-8.3%
Q1 2013
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +3.9% | +2.8% | +2.2% | |
| Q4 2025 | +3.0% | +7.1% | +2.8% | |
| Q3 2025 | +4.3% | +10.5% | +6.3% | |
| Q1 2025 | +1.2% | +0.5% | +0.8% | |
| Q4 2024 | -0.2% | +4.1% | -2.7% | |
| Q3 2024 | +1.6% | +5.0% | +15.8% | |
| Q2 2024 | +5.1% | +4.7% | +13.5% | |
| Q1 2024 | -6.6% | -10.6% | -6.1% | |
| Q4 2023 | -4.3% | -3.4% | -21.9% | |
| Q3 2023 | +0.1% | +0.4% | +13.2% | |
| Q2 2023 | -1.4% | -3.8% | -15.0% | |
| Q1 2023 | +9.3% | -14.9% | -11.0% | |
| Q4 2022 | +3.0% | +7.0% | +5.5% | |
| Q3 2022 | +3.0% | +2.8% | +8.4% | |
| Q2 2022 | +4.1% | +4.1% | +8.0% | |
| Q1 2022 | -2.0% | -1.8% | +4.5% | |
| Q4 2021 | -5.7% | -4.3% | -3.4% | |
| Q3 2021 | -1.2% | +3.9% | +3.6% | |
| Q2 2021 | -0.9% | -1.4% | +1.1% | |
| Q1 2021 | -1.6% | +2.1% | +2.4% | |
| Q4 2020 | -1.7% | +0.8% | +17.9% | |
| Q3 2020 | +5.8% | -1.0% | +20.4% | |
| Q2 2020 | +3.5% | -0.8% | -0.4% | |
| Q1 2020 | -4.6% | -8.0% | -3.9% | |
| Q4 2019 | -3.4% | +0.0% | -14.7% | |
| Q3 2019 | +0.3% | +2.9% | +2.1% | |
| Q2 2019 | +1.2% | +1.8% | -7.8% | |
| Q1 2019 | +0.3% | +1.3% | -1.5% | |
| Q4 2018 | -2.5% | -1.1% | +2.0% | |
| Q3 2018 | +0.3% | +5.1% | +4.8% | |
| Q2 2018 | -6.1% | -7.8% | -5.1% | |
| Q1 2018 | +3.2% | +1.7% | +3.9% | |
| Q4 2017 | +4.7% | +2.9% | +5.8% | |
| Q3 2017 | -2.4% | -3.7% | -5.4% | |
| Q2 2017 | -5.9% | -4.2% | -9.1% | |
| Q1 2017 | +0.4% | -0.7% | -5.0% | |
| Q4 2016 | +6.8% | +5.7% | +9.0% | |
| Q3 2016 | +1.4% | +0.9% | +16.7% | |
| Q2 2016 | -0.8% | -1.0% | +4.6% | |
| Q1 2016 | -6.7% | — | — | |
| Q4 2015 | +0.7% | — | — | |
| Q3 2015 | +5.8% | — | — | |
| Q2 2015 | -1.8% | — | — | |
| Q1 2015 | -2.0% | — | — | |
| Q4 2014 | -1.2% | — | — | |
| Q3 2014 | -0.3% | — | — | |
| Q2 2014 | -0.6% | — | — | |
| Q1 2014 | -6.9% | — | — | |
| Q4 2013 | -1.8% | — | — | |
| Q3 2013 | -4.1% | — | — | |
| Q2 2013 | +3.8% | — | — | |
| Q1 2013 | -8.3% | — | — | |
| Q4 2012 | -0.2% | — | — | |
| Q3 2012 | -0.4% | — | — | |
| Q2 2012 | -0.3% | — | — | |
| Q1 2012 | +0.1% | — | — | |
| Q4 2011 | +0.5% | — | — | |
| Q4 2008 | +0.5% | — | — | |
| Q3 2011 | +3.8% | — | — | |
| Q2 2011 | -2.7% | — | — | |
| Q1 2010 | +0.4% | — | — | |
| Q1 2011 | +0.3% | — | — | |
| Q4 2010 | -1.6% | — | — | |
| Q3 2010 | -2.9% | — | — | |
| Q3 2009 | -2.9% | — | — | |
| Q4 2009 | +0.1% | — | — | |
| Q2 2010 | +0.1% | — | — | |
| Q2 2009 | +0.1% | — | — |
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